Short answer
CME Group (CME) filed its fiscal 2024 10-K annual report with the SEC on Feb 27, 2025. It reported revenue of $6.1B (+9.9% year over year) and net income of $3.5B.
- Top risk flagged: Regulatory risk from failure to maintain BrokerTec Americas' FICC membership, requiring timely margin payments to avoid loss of customer trust and trading volumes
FY2024 key financial metrics · XBRL
- Revenue
- $6.1B
- +9.9% YoY
- Net income
- $3.5B
- +9.3% YoY
- Operating margin
- 64.1%
- +2.6 pp YoY
- EPS (diluted)
- $9.67
- +9.1% YoY
- ROE
- 13.3%
- +1.2 pp YoY
- Operating cash flow
- $3.7B
- +6.9% YoY
Source: XBRL data from the CME Group (CME) FY2024 10-K on SEC EDGAR. USD.
CME Group FY2024 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Global derivatives marketplace enabling trading across asset classes including futures and options
- No new products, services, or business segments introduced or emphasized in this filing year
- No stated strategic shifts or changes in competitive positioning compared to prior year
- Equity compensation plans authorized 14.8M shares available for future grants as of December 31, 2024
- Filing includes recent amendments to stock plans and deferred savings plans effective through 2024 and multiple credit agreement amendments up to April 2024
Management Discussion & Analysis
- Revenue $6.13B, up 10% YoY from $5.58B, driven by 9% volume growth in clearing and transaction fees
- Operating margin 64.1% vs 61.6%, net income $3.53B up 9% YoY
- Best performing segment: Clearing & transaction fees $4.99B, up 9%; worst: cash markets transaction fees down 3% to $276.7M
- Operating cash flow $3.69B up 7%, capital expenditures $90M forecasted for 2025, dividends approx. $455M quarterly, $5.80/share annual variable dividend paid, $3B share repurchase authorized (none used)
- 2025 outlook cautious due to inflation uncertainty, Fed guidance, geopolitical tensions impacting volatility and volumes; risks include regulatory environment, market competition, and execution of technology projects
Risk Factors
- Regulatory risk from failure to maintain BrokerTec Americas' FICC membership, requiring timely margin payments to avoid loss of customer trust and trading volumes
- Geopolitical exposure to regulatory changes in U.S., U.K., and E.U. jurisdictions impacting compliance costs and business structure globally
- Operational risk of liquidity shortfall at BrokerTec Americas affecting its ability to meet margin calls under FICC rules
- Competitive risk from potential transaction taxes proposed domestically and internationally increasing market participant costs, reducing trading activity
- Financial risk linked to significant compliance cost increases from expanding regulatory oversight impacting operating results
Generated from the filing text; verify against the original. How to read a 10-K
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